Mark M. Gambill Sells 12,000 Shares of Speedway Motorsports, Inc. (TRK) Stock
Speedway Motorsports, Inc. (NYSE:TRK) Director Mark M. Gambill sold 12,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $20.00, for a total transaction of $240,000.00. Following the transaction, the director now directly owns 40,428 shares of the company’s stock, valued at approximately $808,560. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Speedway Motorsports, Inc. (TRK) opened at $19.23 on Wednesday. The stock has a market cap of $793.54, a P/E ratio of 20.83, a P/E/G ratio of 9.88 and a beta of 0.89. Speedway Motorsports, Inc. has a 1 year low of $16.80 and a 1 year high of $23.47. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28.
Speedway Motorsports (NYSE:TRK) last posted its earnings results on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.06). The business had revenue of $137.61 million for the quarter, compared to analyst estimates of $141.79 million. Speedway Motorsports had a return on equity of 4.79% and a net margin of 7.26%. analysts expect that Speedway Motorsports, Inc. will post 0.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, November 9th. Speedway Motorsports’s dividend payout ratio (DPR) is presently 70.59%.
TRK has been the subject of a number of research analyst reports. BidaskClub raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, July 27th. Finally, TheStreet raised shares of Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Speedway Motorsports by 1.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 216,149 shares of the company’s stock worth $3,949,000 after purchasing an additional 3,010 shares in the last quarter. Vivaldi Asset Management LLC acquired a new stake in Speedway Motorsports during the 2nd quarter worth approximately $4,036,000. Geode Capital Management LLC increased its position in Speedway Motorsports by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock worth $1,847,000 after purchasing an additional 3,270 shares in the last quarter. Clark Estates Inc. NY increased its position in Speedway Motorsports by 15.3% during the 2nd quarter. Clark Estates Inc. NY now owns 292,288 shares of the company’s stock worth $5,340,000 after purchasing an additional 38,677 shares in the last quarter. Finally, North Star Investment Management Corp. increased its position in Speedway Motorsports by 15.7% during the 2nd quarter. North Star Investment Management Corp. now owns 90,540 shares of the company’s stock worth $1,654,000 after purchasing an additional 12,300 shares in the last quarter. 21.70% of the stock is owned by hedge funds and other institutional investors.
Speedway Motorsports Company Profile
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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